Media Centre
Alinta announces sale of holding in Uecomm
Alinta Limited announced on today it had finalised an offer by Optus to purchase its interests in telecommunications company Uecomm Ltd.
Alinta CEO Bob Browning said Alinta would receive a total consideration of approximately $155 million for its interests in Uecomm, which included 335 million shares (66 per cent of Uecomm’s issued capital) and the rights and obligations under a loan facility from Alinta to Uecomm.
Mr Browning said with all other approvals relating to the agreement now finalised, the sale was now unconditional. Settlement is due to take place at the end of next week.
The Alinta-nominated directors of Uecomm intend to resign from the board of Uecomm within two weeks.
Mr Browning said the sale of Uecomm allowed Alinta to focus on its core business of operating and managing energy infrastructure assets.
